Friday, April 19, 2019 12:54:20 PM
“Constellation would be permitted to purchase up to 20 million Canopy shares in the open market prior to the warrants being exercised or terminated, provided that for each share purchased by Constellation, the number of Tranche B warrants is decreased by one.”
“51.2 million Tranche B warrants, of which 38.4 million, or 75 percent, are exercisable at a price per share of C$76.68”
So they can buy 20 million of the 38.4 million on open market for current market price , then execute the remaining 18.4 million at 76.68 when necessary.....
This also keeps our float down 20 million, and increases buying pressure for open market shares.....
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